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Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional and Fair Value Position [Table Text Block]
The following table displays the notional amount and estimated fair value of our asset and liability derivative instruments as of March 31, 2015 and December 31, 2014.
 
As of March 31, 2015
 
As of December 31, 2014
 
Asset Derivatives
 
Liability Derivatives
 
Asset Derivatives
 
Liability Derivatives
 
Notional Amount
 
Estimated Fair Value
 
Notional Amount
 
Estimated Fair Value
 
Notional Amount
 
Estimated Fair Value
 
Notional Amount
 
Estimated Fair Value
 
(Dollars in millions)
Risk management derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay-fixed
$
17,739

 
$
114

 
$
144,469

 
$
(9,424
)
 
$
41,965

 
$
733

 
$
123,557

 
$
(7,125
)
Receive-fixed
141,195

 
5,508

 
97,104

 
(516
)
 
67,629

 
4,486

 
157,272

 
(1,302
)
Basis
1,769

 
156

 
9,100

 
(3
)
 
5,769

 
123

 
7,100

 
(2
)
Foreign currency
328

 
132

 
260

 
(48
)
 
344

 
144

 
273

 
(30
)
Swaptions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay-fixed
7,625

 
52

 
21,700

 
(79
)
 
11,100

 
57

 
26,525

 
(175
)
Receive-fixed

 

 
23,275

 
(968
)
 
750

 
96

 
29,525

 
(816
)
Other(1)
1,060

 
27

 
12

 
(1
)
 
1,071

 
28

 
12

 
(1
)
Total gross risk management derivatives
169,716

 
5,989

 
295,920

 
(11,039
)
 
128,628

 
5,667

 
344,264

 
(9,451
)
Accrued interest receivable (payable)

 
917

 

 
(1,232
)
 

 
749

 

 
(1,013
)
Netting adjustment(2)

 
(5,626
)
 

 
12,036

 

 
(5,186
)
 

 
10,194

Total net risk management derivatives
$
169,716

 
$
1,280

 
$
295,920

 
$
(235
)
 
$
128,628

 
$
1,230

 
$
344,264

 
$
(270
)
Mortgage commitment derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage commitments to purchase whole loans
$
10,387

 
$
51

 
$
1,493

 
$
(4
)
 
$
6,157

 
$
28

 
$
428

 
$

Forward contracts to purchase mortgage-related securities
59,334

 
341

 
6,748

 
(14
)
 
43,533

 
223

 
6,112

 
(8
)
Forward contracts to sell mortgage-related securities
8,548

 
20

 
91,558

 
(549
)
 
4,886

 
4

 
57,910

 
(336
)
Total mortgage commitment derivatives
$
78,269

 
$
412

 
$
99,799

 
$
(567
)
 
$
54,576

 
$
255

 
$
64,450

 
$
(344
)
Derivatives at fair value
$
247,985

 
$
1,692

 
$
395,719

 
$
(802
)
 
$
183,204

 
$
1,485

 
$
408,714

 
$
(614
)
__________
(1) 
Includes futures, swap credit enhancements and mortgage insurance contracts that we account for as derivatives. The mortgage insurance contracts have payment provisions that are not based on a notional amount.
(2) 
The netting adjustment represents the effect of the legal right to offset under legally enforceable master netting arrangements to settle with the same counterparty on a net basis, including cash collateral posted and received. Cash collateral posted was $6.6 billion and $5.3 billion as of March 31, 2015 and December 31, 2014, respectively. Cash collateral received was $161 million and $245 million as of March 31, 2015 and December 31, 2014, respectively.
Fair Value Gain (Loss), Net [Table Text Block]
The following table displays, by type of derivative instrument, the fair value gains and losses, net on our derivatives for the three months ended March 31, 2015 and 2014.
 
For the Three Months
 
Ended March 31,
 
2015
 
2014
 
(Dollars in millions)
Risk management derivatives:
 
 
 
Swaps:
 
 
 
Pay-fixed
$
(3,069
)
 
$
(2,118
)
Receive-fixed
1,847

 
1,465

Basis
32

 
35

Foreign currency
(29
)
 
21

Swaptions:
 
 
 
Pay-fixed
91

 
(99
)
Receive-fixed
(159
)
 
(42
)
Other
2

 
(3
)
Accrual of periodic settlements:
 
 
 
Pay-fixed interest-rate swaps
(931
)
 
(903
)
Receive-fixed interest-rate swaps
692

 
691

Other
10

 
13

Total risk management derivatives fair value losses, net
$
(1,514
)
 
$
(940
)
Mortgage commitment derivatives fair value losses, net
(239
)
 
(345
)
Total derivatives fair value losses, net
$
(1,753
)
 
$
(1,285
)